Nomad Foods (NYSE:NOMD) Downgraded by StockNews.com

StockNews.com cut shares of Nomad Foods (NYSE:NOMD) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

NOMD has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft boosted their target price on Nomad Foods from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Barclays decreased their target price on Nomad Foods from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, July 19th.

Nomad Foods Stock Performance

Shares of NOMD stock opened at $18.01 on Thursday. Nomad Foods has a 12 month low of $13.56 and a 12 month high of $20.05. The stock has a market cap of $2.94 billion, a PE ratio of 15.01 and a beta of 0.78. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.80. The company’s fifty day moving average price is $18.65 and its 200-day moving average price is $18.14.

Nomad Foods (NYSE:NOMD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. The firm had revenue of $810.64 million during the quarter, compared to analyst estimates of $822.21 million. Nomad Foods had a return on equity of 9.78% and a net margin of 6.79%. On average, equities analysts expect that Nomad Foods will post 1.96 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Saturday, August 10th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.33%. Nomad Foods’s dividend payout ratio (DPR) is presently 50.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Boston Partners boosted its stake in Nomad Foods by 18.8% in the 1st quarter. Boston Partners now owns 8,563,043 shares of the company’s stock worth $167,241,000 after purchasing an additional 1,356,159 shares during the period. Renaissance Technologies LLC boosted its stake in Nomad Foods by 8.3% in the 2nd quarter. Renaissance Technologies LLC now owns 4,179,679 shares of the company’s stock worth $68,881,000 after purchasing an additional 320,900 shares during the period. Russell Investments Group Ltd. boosted its stake in Nomad Foods by 16.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,377,332 shares of the company’s stock worth $26,941,000 after purchasing an additional 193,531 shares during the period. Paradice Investment Management LLC boosted its position in shares of Nomad Foods by 8.3% during the 2nd quarter. Paradice Investment Management LLC now owns 1,365,974 shares of the company’s stock valued at $22,511,000 after acquiring an additional 104,177 shares during the last quarter. Finally, Invenomic Capital Management LP boosted its position in shares of Nomad Foods by 26.0% during the 1st quarter. Invenomic Capital Management LP now owns 1,218,304 shares of the company’s stock valued at $23,830,000 after acquiring an additional 251,619 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors.

Nomad Foods Company Profile

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.